IRS Guidance Updates Determination Letter Procedures
The Internal Revenue Service (IRS) has released guidance on its advice provided by determination letters and private letter rulings reflecting several changes that took effect January 1.
Tag: benefits
3 Trends Driving Millennial Benefits Design
Yesterday’s Leadership Daily Advisor set the stage for some far-reaching employee benefits design change in the works. Bolstered by fresh research showing that the Millennial workforce is quickly shaping new strategies for the entire benefits arena, we touched on three studies identifying what’s ahead. Today, we describe three main priorities that will drive the most […]
A Great Case for Remote Work
While clearly not every job is a good candidate for remote work, there are millions of jobs that are. This fact contributes to the ever-growing percentage of the workforce (now estimated to be around 40%) that work virtually in some capacity. Some employers remain wary of allowing remote work, while others embrace it fully. Let’s […]
Health Insurer Can Be Sued for Losing PHI, Even if No Evidence of Misuse
A health insurer that had laptops with personal information stolen can be sued by participants, even if they have no evidence that the thieves later misused the data, a federal appeals court ruled.
PBGC Adds Credit Deterioration, Cash-Flow Decline to Early Warning Factors It Monitors
The U.S. Pension Benefit Guaranty Corp. (PBGC) has added two more conditions to the list of early warning factors that it watches and believes may endanger the funding of single-employer defined benefit (DB) retirement plans.
Ask the Expert: Are Cash Payments in Lieu of Benefits Part of Base Wage?
Question: We provide employees the option to take a lump sum cash payment ($1,000/yr) in lieu of accepting benefits, payable in increments over each pay period. The U.S. Court of Appeals for the 9th Circuit has indicated those payments should be included in the base wage for purposes of calculating overtime (see Flores v. City […]
The Heart-Healthy Guide to Approaching Employee Wellness
February brings with it a number of holidays and observances, from Groundhog Day and President’s Day in the U.S. to Valentine’s Day throughout the world. But as we celebrate love, Washington’s birthday, and everyone’s favorite groundhog, Punxsutawney Phil, a national health observance goes unnoticed by most.
California Cracks Down on Workers’ Compensation Provider Fraud
California’s Department of Industrial Relations (DIR) has made multiple attempts to reduce workers’ compensation costs to employers and to improve compensation paid to workers. One persistent obstacle to cost containment is fraud, and the DIR has poured considerable resources into combating fraudulent worker claims, premium fraud, and most recently, provider fraud. In January, the DIR […]
Plan Sponsor Group Seeks Relief from ACA Reporting
A plan sponsor organization is asking the Trump administration for immediate relief from the Affordable Care Act’s (ACA) employer reporting requirements.
DOL Files to Delay Start of Fiduciary Rule
The U.S. Department of Labor (DOL) on February 9 filed a notice delaying the April 10 applicability date of its rule broadening the definition of a fiduciary. The move was expected after President Donald Trump on February 3 signed a memorandum requesting the agency to postpone and re-examine the rule on investment advice.